Grayscale parent firm DCG to expand GBTC buy limit by $500M
Digital Currency Group has purchased a total of $194 million worth of GBTC shares so far. Digital Currency Group, the parent company of digital asset manager Grayscale Investments, is now authorized to purchase up to $750 million worth of shares of Grayscale Bitcoin Trust.The company announced Monday that DCG increased its prior authorization to buy up to $250 million worth of GBTC shares by an extra $500 million.The share purchase authorization does not obligate DCG to acquire any certain amount of shares in any period, and it may be expanded, modified or discontinued at any time, DCG....
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The new allocation extends DCG’s purchase authorization for the Grayscale Bitcoin Trust by $250 million. According to an announcement issued on Wednesday, DCG is now authorized to buy up to $1 billion worth of Grayscale Bitcoin Trust (GBTC).This development extends DCG’s prior authorization by $250 million if they choose to do so. Indeed, DCG has so far purchased $338 million in GBTC, according to the company’s announcement on Wednesday.As previously reported by Cointelegraph, DCG had purchased $193.5 million worth of GBTC shares back in May 2021. At the time, the firm’s GBTC purchase....
Wealthfront users will now be able to have up to 10% of their portfolios composed of the Grayscale Bitcoin and Ethereum Trusts. Bitcoin (BTC) and Ether (ETH) exposure has come to one of the world's biggest automated investment firms.In a blog post on July 29, Wealthfront, which has $25 billion in assets, confirmed that it had added two Grayscale funds to its suite of investment options.GBTC buzz returnsThe recent rise in cryptocurrency prices has kept institutional products such as Grayscale's various funds in the spotlight.Wealthfront, an example of a so-called "robo advisor" in the....
In a further sign of a shake-up in the institutional market, DCG is eyeing the purchase along with hiring ETF specialists. Cryptocurrency asset manager Grayscale has a new buyer of shares in its Grayscale Bitcoin Trust (GBTC) — its owner.In a press release on March 10, Grayscale parent company Digital Currency Group (DCG) announced plans to purchase up to $250 million of GBTC shares.GBTC to buy "up to $250 million" in sharesThe move, which comes amid volatile conditions for GBTC, follows plans to hire specialists in the exchange-traded fund (ETF) sphere, signaling a potential....
Grayscale Investments has confirmed its plan to file for its bitcoin trust (GBTC) to be converted into a bitcoin exchange-traded fund (ETF). “The NYSE Arca will file a document called the 19b-4 to convert GBTC into an ETF,” said Grayscale’s official.
GBTC to Become Bitcoin ETF
Grayscale Investments has confirmed that it will convert its flagship product, Grayscale Bitcoin Trust (GBTC), into a bitcoin exchange-traded fund (ETF). Jennifer Rosenthal, Grayscale’s communications director, tweeted Monday:
Today, I’m happy to confirm that....
Grayscale's flagship Bitcoin fund had no competition from the newly-launched ETF products in their first seven days, figures show. Bitcoin (BTC) investment vehicle the Grayscale Bitcoin Trust (GBTC) outperformed the newly-launched exchange-traded funds (ETFs) last week, data shows.Figures shared by Grayscale executives among others confirm that GBTC quietly delivered better investor returns since Oct. 19.Grayscale "discount" hits one-month lowsWhile talk continues to revolve around Bitcoin futures ETFs and their market impact, industry stalwart Grayscale is biting back.Amid claims that the....